Sugarman News & Articles

Elder Law/Medicaid Practice

Many people may think that they don’t have enough money or assets to necessitate having a will but your will can do much more than just designate the beneficiaries of your estate. Having a will allows you to have control over many aspects of your estate, it allows you to dispose of your assets according to your wishes subject to certain rules with respect to spouses, leave charitable bequests, appoint a guardian for your minor children, appoint the person who will take care of your estate once you die, this person is referred to as your “personal representative” or “executor”, create trusts for minors and/or persons with disabilities, among many other things. Even if all of your assets are held jointly or with named beneficiary designations, it is still important to have a will as a back-up. In addition, having a will in place may allow you to avoid federal or New York estate tax.

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